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Past Exam for ACIS 2116 - Principles of Accounting at Virginia Tech (VT)

Exam Information

Material Type:Exam 1
Professor:Staff
Class:ACIS 2116 - Principles of Accounting
Subject:Accounting & Information Systems
University:Virginia Polytechnic Institute And State University
Term:Summer I 2001
Keywords:
  • Overhead Application
  • Overhead Account
  • Goods Inventory
  • Assembly Department
  • Period Cost
  • Overhead Cost
  • Processing Department
  • Finished Goods Inventory
  • Process Inventory
  • Three-Year Period
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Sample Document Text

PART I MULTIPLE CHOICE PART lIT-ACCOUNTS PART III JOB ORDER COSTING PART IV EQUIVALENT UNITS ACCOUNTING 2116 TEST I July 12,2001 TRANSFERRING ANSWERS TO ANSWER PAGE GENERAL INSTRUCTIONS: NAME SECTION NUMBER OR HOUR II ~ 00 INSTRUCTOR AAC2DN (KN3Tf(~t: 70 POINTS 51) 12 POINTS c., 9 POINTS lJ 8 POINTS V 99 POINTS 1 POINT 100 POINTS - - 1) Check your test booklet to detennine whether it includes aU of the parts listed above. 2) Be sure to read instructions to all problems very carefully. 3) Budget your time wisely. 4) If an answer requires a computation, the computation must be shown. ANSWERS UNSUPPORTED BY CALCULATIONS WILL LOSE CREDIT. 5) The use of a calculator is NOT permitted. 6) The Department of Accounting supports the Virginia Tech Honor System in every possible way. Part I I. Which of the following statements are true regarding financial and managerial accounting? I. Both are mandatory. II. Both rely on the same underlying fmancial data. III. ...

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